Police have arrested a 28-year-old Hong Kong man suspected of laundering MOP4.7 million as part of an electronic fraud group that targets Macau, authorities said yesterday.
The Judiciary Police (PJ) received a tip on Saturday from mainland China’s National Anti-Fraud Center that criminals were using compromised bank cards to make large gold purchases in Macau to launder illegal funds, according to a police statement. After an investigation, police identified suspects and learned the group planned another transaction, the statement said.
On Monday, police arrested the 28-year-old at a Cotai jewelry store as he bought approximately MOP63,800 worth of gold bars and nuggets, police said. He is believed to be a key member of the criminal group.
An investigation revealed the group was involved in at least eight electronic fraud cases on the mainland resulting in over MOP5.5 million in losses, the statement said. The group would purchase gold in Macau to conceal the illicit money. Group members used others’ identifying documents to conduct transactions and avoid scrutiny, masking their true identities, according to police.
At least one suspect remains at large. Police believe the group laundered money in Macau on at least 12 prior occasions totaling some MOP4.7 million using the same method. The PJ said the investigation is ongoing. staff reporter
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